At the time of writing, NEO price is currently sitting at $17.3
So the NEO chart is, understandably, looking very similar to the charts of its siblings. We saw it form a dynamic uptrend that was followed by a breakdown copying the movement of BTC.
Right now it looks like NEO is right along the edge of the latest temporary support formed at $17 (you know, following the principle of resistance-turned-support and vice versa). It looks like it has tested this support twice so far, and we might be in for another test over the next 24 hours. All in all it appears to be in consolidation mode after the breakdown of the dynamic uptrend.
On the upside, if NEO can indeed hold up the $17 support, we'd be looking for a retest of $19.5, after which a test of $21 might be possible, although it looks to have a higher chance of getting rejected there unless there's an increase of buying across the market as whole. On the downside, if $17 fails to hold, next level we'd look at would be $15.5. To be honest that looks like a strong support, but in the off chance that also breaks down, we're really left with $14.10 or so.
If we zoom out and look at the bigger picture, we'll see that $14.10, or the latest low we've had, is really a bottom out of NEO, as it's the lowest level we've seen since September 2017. IF you're a long-term investor, you might take this as a good sign and a good entry point for NEO. Below $14.10, watch very closely and see how it behaves $13.5-$14.0 as that would be a very critical level.
On the daily chart for NEO, technical indicators give a bearish outlook (14 sell, 10 neutral, 2 buy)
On the weekly chart for NEO, technical indicators give a slightly better but still similar bearish outlook (12 sell, 6 neutral, 3 buy)
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